Monday, April 9, 2012

Govt looks to improve India's position in global FDI flow

The government plans to raise India's share in the global foreign direct investment (FDI) to 5% by 2017 by streamlining policies for attracting investments.
The Department of Industrial Policy and Promotion (DIPP) has set a goal "to increase FDI inflows to India by improving its global share from 1.3% in 2007 to 5% by 2017".
A report of the DIPP said that India has already emerged as one of the most preferred destinations for foreign investment and "this eminent position will need to be sustained".
Since in a globalised economy manufacturers have the choice to locate in any part of the world to get a competitive advantage, "DIPP will aim at sustaining this preferred location status for India," it said.
Experts said the aim is achievable provided some major economic reforms like FDI In multi-brand retail can be implemented on time.
"This can be done but for that there is a need to further improve the investment climate of the country," Ficci Secretary General Rajiv Kumar said.

Airtel to become the first to launch 4G services in India

Bharti Airtel, India's leading mobile service provider, is set to roll out broadband wireless access (BWA) services based on 4G technology in Kolkata on Tuesday.
With this launch, Bharti Airtel would become the first to launch this high-speed service. Airtel sources said that this would entail speed of 100 megabits per second when a subscriber is on the move and a far higher speed when at a fixed location. Which is way higher than the current speed.
Bharti Airtel said that it has selected ZTE Corporation, a listed global provider of telecommunications equipment and network solutions to plan, design, supply and deploy its 4G network in Kolkata.

North Korea positions rocket at launchpad

North Korean space officials have moved all three stages of a long-range rocket into position for a controversial launch, vowing to push ahead with their plan in defiance of international warnings against violating a ban on missile activity.
North Korea announced plans last month to launch an observation satellite using a three-stage rocket during mid-April celebrations of the 100th anniversary of the birth of North Korean founder Kim Il Sung. The U.S., Japan, Britain and other nations have urged North Korea to cancel the launch, warning that firing the long-range rocket would violate U.N. resolutions and North Korea’s promise to refrain from engaging in nuclear and missile activity.

India, Qatar enter oil and gas pact

India and Qatar on Monday signed six agreements in diverse areas, including a pact on cooperation in oil and gas exploration.
Prime Minister Manmohan Singh held talks with Qatar’s Emir Sheikh Hamad bin Khalifa al-Thani on a range of issues, including boosting trade and investment as well as energy ties between the two countries.
Issues relating to the welfare of Indian workers in the Gulf country were also discussed.
After the talks, Petroleum Minister S. Jaipal Reddy and Qatar’s Energy Minister Mohammed Bin Saleh al-Sada signed a pact on establishing a cooperative framework to enhance bilateral cooperation in oil and gas.
The pact envisages cooperation in the areas of upstream and downstream oil and gas activities. It is expected to encourage and promote investment and cooperation between two ministries of oil and gas and through affiliated companies.
Qatar, which holds the world’s third-largest natural gas reserves after Russia and Iran, has an LNG (liquefied natural gas) export capacity of 77 million tonnes a year.
Three agreements were signed in the fields of educational exchanges, cultural contacts and promoting tourism.
A memorandum of agreement was signed between the Reserve Bank of India and Qatar Central Bank. The pact will establish an arrangement for sharing of supervisory information and enhancing cooperation in the area of banking supervision.
Another pact on exchange of experiences, information and expertise in the field of legal affairs was also signed.

Manmohan - Zardari talks

Promising the prospect of continuous high-level engagements instead of meaning-less meetings, visiting Pakistan President Asif Ali Zardari and Prime Minister Manmohan Singh on Sunday held talks on various issues, including action against Jama'at-ud-Dawa chief Hafiz Saeed. Though Saeed was not the only subject, it was mentioned “upfront” by Dr. Singh. Dr. Singh emphasised need to prosecute Saeed, the alleged strategist behind the 2008 Mumbai attacks, during the 40-minute one-to-one talks. He said action against all those involved in the terror attacks in India would be a major issue by which people here would judge their ties with Pakistan.

Mr. Zardari referred to the legal issues involved and both leaders agreed that a structured discussion on Saeed could be held during the coming Home Secretary-level talks in Islamabad. They were also hopeful of the meeting easing the onerous curbs on travel that had stifled people-to-people interaction, Foreign Secretary Ranjan Mathai told journalists.

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